Iraq's economy booming as oil revenues increase
Iraq's economy should grow nine per cent this year as oil production increases.
Reserves are expected at between $105 billion to $110 billion by the end of this year, reported Reuters, citing a central bank official.
"I expect the GDP will reach $150 billion by the end of 2013. It will be nine percent (growth)," Acting Central Bank Governor Abdul-Basit Turki told Reuters.
The Central Bank had previously said it expected growth in 2012 to be around 10 per cent and reserves in December last year were around $70 billion, reported the newswire.
- The not-so-glamourous side of the Western expat's life in Dubai
- The best way to ask for a raise or a promotion...and, God forbid, handle a 'no'
- Syria's children search for livelihood amidst Lebanon's graves
- Arab Thought Foundation's strategy to create 80 million jobs in the Middle East
- Let's just say nshallah! Egypt's back in business, says new survey